New Concept Energy, Inc. (NYSE American: GBR), (the “Company” or “NCE”) a Dallas-based company, today reported Results of Operations for the first quarter ended March 31, 2026.
The Company reported a net loss from continuing operations of ($14,000) for three months ended March 31, 2026, as compared to a net loss of ( $20,000) for the similar period in 2025.
For the three months ended March 31,2026 the Company had revenue of $39,000 including $26,000 for rental income and $13,000 in management fees. For the three months ended March 31,2025 the Company had revenue of $38,000 including $26,000 for rental income and $12,000 in management fees.
For the three months ended March 31, 2026, corporate general & administrative expenses were $77,000 as compared to $89,000 for the comparable period in 2025.
About New Concept Energy, Inc.
New Concept Energy, Inc. is a Dallas-based company which owns real estate in West Virginia and provides management services for a third-party oil and gas company. For more information, visit the Company’s website at www.newconceptenergy.com .
| NEW CONCEPT ENERGY, INC. AND SUBSIDIARY | |||||||
| CONDENSED CONSOLIDATED BALANCE SHEETS | |||||||
| (amounts in thousands) | |||||||
| March 31, 2026 | December 31, 2025 | ||||||
| (Unaudited) | (Audited) | ||||||
| Assets | |||||||
| Current assets | |||||||
| Cash and cash equivalents | $ | 318 | $ | 383 | |||
| Other current assets |
| 62 |
|
| 13 |
| |
| Total current assets |
| 380 |
|
| 396 |
| |
| Property and equipment, net of depreciation | |||||||
| Land, buildings and equipment |
| 619 |
|
| 622 |
| |
| Note and interest receivable - related party | |||||||
| Note receivable |
| 3,542 |
|
| 3,542 |
| |
| Interest receivable |
| - |
|
| - |
| |
| 3,542 |
|
| 3,542 |
| ||
| Total assets | $ | 4,541 |
| $ | 4,560 |
| |
| NEW CONCEPT ENERGY, INC. AND SUBSIDIARY | |||||||
| CONDENSED CONSOLIDATED BALANCE SHEETS - CONTINUED | |||||||
| (dollars in thousands, except per share value amounts) | |||||||
| March 31, 2026 | December 31, 2025 | ||||||
| (Unaudited) | (Audited) | ||||||
| Liabilities and stockholders' equity | |||||||
| Current liabilities | |||||||
| Accounts payable (including $8 due to related parties in 2026 and 2025) | $ | 25 |
| $ | 26 |
| |
| Accrued expenses |
| 39 |
|
| 43 |
| |
| Total current liabilities |
| 64 |
|
| 69 |
| |
| Stockholders' equity | |||||||
| Preferred stock, Series B, $10 par value; authorized 100,000 shares, 1 issued and |
| 1 |
|
| 1 |
| |
| outstanding at March 31, 2026 and December 31, 2025 | |||||||
| Common stock, $.01 par value; authorized, 100,000,000 | |||||||
| shares; issued and outstanding, 5,131,934 shares | |||||||
| at March 31, 2026 and December 31, 2025 |
| 51 |
|
| 51 |
| |
| Additional paid-in capital |
| 63,579 |
|
| 63,579 |
| |
| Accumulated deficit |
| (59,154 | ) |
| (59,140 | ) | |
| Total stockholders' equity |
| 4,477 |
|
| 4,491 |
| |
| Total liabilities and stockholders' equity | $ | 4,541 |
| $ | 4,560 |
| |
| NEW CONCEPT ENERGY, INC. AND SUBSIDIARY | |||||||
| CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS | |||||||
| (amounts in thousands, except per share data) | |||||||
Three Months ended March 31, | |||||||
2026 |
| 2025 | |||||
| (Unaudited) | (Unaudited) | ||||||
| Revenue | |||||||
| Rent | $ | 26 |
| $ | 26 |
| |
| Management fees |
| 13 |
|
| 12 |
| |
| Total Revenues |
| 39 |
|
| 38 |
| |
| Operating Expenses | |||||||
| Operating expenses |
| 13 |
|
| 12 |
| |
| Corporate general and administrative |
| 77 |
|
| 89 |
| |
| Total Operating Expenses |
| 90 |
|
| 101 |
| |
| Loss from operations |
| (51 | ) |
| (63 | ) | |
| Other Income | |||||||
| Interest income ($34 and $39 from related parties in 2026 and 2025) |
| 37 |
|
| 43 |
| |
| Total Other Income |
| 37 |
|
| 43 |
| |
| Net income (loss) applicable to common shares | $ | (14 | ) | $ | (20 | ) | |
| Net income (loss) per common share-basic and diluted | $ | (0.01 | ) | $ | (0.01 | ) | |
| Weighted average common and equivalent shares outstanding - basic and diluted |
| 5,132 |
|
| 5,132 |
| |
View source version on businesswire.com: https://www.businesswire.com/news/home/20260507186152/en/
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